Cumberland Partners Ltd Sells 37,960 Shares of Alamos Gold Inc. $AGI

Key Points

• Cumberland Partners Ltd reduced its stake in Alamos Gold by 15.7% in the first quarter, selling 37,960 shares and leaving it with 204,300 shares valued at about $9.06 million.
• Analysts remain generally positive on the stock, with nine Buy ratings and two Hold ratings; the consensus view is a Moderate Buy and the average price target stands at $47.50, though several firms recently cut targets.
• Alamos Gold reported Q1 earnings of $0.54 per share, matching estimates, while revenue rose 79.2% year over year to $596.7 million. The company also paid a quarterly dividend of $0.04 per share, equal to a 0.5% annualized yield.

Cumberland Partners Ltd lowered its holdings in shares of Alamos Gold Inc. (NYSE:AGI - Free Report) TSE: AGI by 15.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,300 shares of the basic materials company's stock after selling 37,960 shares during the period. Cumberland Partners Ltd's holdings in Alamos Gold were worth $9,060,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Atlantic Union Bankshares Corp bought a new position in shares of Alamos Gold during the 4th quarter worth approximately $25,000. Clearstead Advisors LLC increased its stake in shares of Alamos Gold by 62.7% in the 4th quarter. Clearstead Advisors LLC now owns 651 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 251 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Alamos Gold by 44.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 722 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 222 shares during the period. Parallel Advisors LLC bought a new position in Alamos Gold during the first quarter worth $35,000. Finally, Bayforest Capital Ltd bought a new position in Alamos Gold during the fourth quarter worth $44,000. 64.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AGI has been the subject of several research analyst reports. Royal Bank Of Canada decreased their price target on shares of Alamos Gold from $52.00 to $42.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Bank of America cut their price objective on shares of Alamos Gold from $50.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Alamos Gold in a research note on Saturday, June 20th. Scotiabank reaffirmed an "outperform" rating on shares of Alamos Gold in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group cut their price target on Alamos Gold from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Alamos Gold Trading Up 0.7%

NYSE:AGI opened at $29.59 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.01 and a quick ratio of 1.61. Alamos Gold Inc. has a one year low of $23.92 and a one year high of $55.41. The company has a market cap of $12.39 billion, a PE ratio of 11.79, a PEG ratio of 0.38 and a beta of 0.55. The firm has a 50-day moving average of $33.90 and a 200-day moving average of $40.71.

Alamos Gold (NYSE:AGI - Get Free Report) TSE: AGI last announced its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $596.70 million for the quarter, compared to analysts' expectations of $612.35 million. Alamos Gold had a net margin of 51.24% and a return on equity of 18.03%. The firm's revenue for the quarter was up 79.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. As a group, equities research analysts expect that Alamos Gold Inc. will post 2.19 EPS for the current fiscal year.

Alamos Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, June 11th. Alamos Gold's dividend payout ratio (DPR) is currently 6.37%.

About Alamos Gold

Alamos Gold Inc is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of mining projects in North America. Its principal activities include the acquisition, exploration and development of gold-bearing properties, and the management of operating mines. The company focuses on sustainable production practices and maintains a portfolio that spans both producing assets and advanced-stage development projects.

Alamos Gold operates multiple open pit and underground mines, including the Young-Davidson and Island Gold mines in Ontario, Canada, and the Mulatos mine in Sonora, Mexico.

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